Housing affordability increases in 4th quarter

SOURCE: Mortgage News Feed

California housing affordability improved from the third-quarter 2014 but dipped when compared to a year ago according to the California Association of Realtors (CAR). The percentage of home buyers who could afford to purchase a median-priced, existing single-family home in California in the fourth quarter of 2014 edged up to 31 percent from the 30 percent recorded in the third quarter according to CAR's Traditional Housing Affordability Index (HAI).

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